Incentives For Solar Farms

Finding Solar Farm Incentives

Renewable energy refers to the energy that is derived from Earth’s resources, and are naturally replaced. In other words, renewable energy sources are the resources that, regardless of the great quantity in which they are used, will not run out. When it comes to considering alternative energy sources, however, it doesn’t get much more renewable than solar.

The sun is always shining – even on days in which the sky outside is heavy with a thick layer of clouds. Day after day, year after year, century after century – it’s always been there and, for the next billion or so years, it will continue to shine. Unlike resources like coal that are quickly being depleted by Earth’s rapidly growing population, the sun’s energy is one constant humans have always been able to count on. It’s essential for growing most crops, warming the atmosphere and, in many ancient cultures, it was even used to tell time. It seems only natural that humans would also begin to use the sun as a means of creating electricity.

For anyone looking for their next great investment, it’s not hard to argue that solar is one of the best choices. Investing in solar farms is a great option for those looking to get into clean energy. In fact, solar energy is one of the fastest growing sectors in the economy and has the potential to help the United States and many other countries rise out of their economic slump. Additionally, it is also one of the cleanest renewable energy sources and the process of converting sunlight into usable energy is both highly practical and efficient.

Many people interested in investing in solar power, however, are concerned about the price. Obviously this type of venture could be expensive and require a great deal of overhead. However, the incentives for solar farms make this investment well worthwhile.

In addition to the fact that this investment returns a profit fairly quickly, there are also many other incentives for solar farms. When seeking the funds to get started, there are multiple national lenders willing to provide loans to investors. As additional incentives for solar farms, utility companies will pay per kilowatt hour, which can quickly help investors recoup the original cost of the equipment.

Next, there are incentives for solar farms in the form of grants. For anyone looking to start up a solar farm venture, there are many organizations willing to provide grants in an effort to encourage the shift to renewable energy sources. Some environmental groups will offer thousands of dollars to individuals looking to start up their own solar farm.

Lastly, and possible most importantly, there are incentives for solar farms in the form of tax credits. The federal government is currently offering a tax credit of 30% of the costs. In order to qualify, the photovoltaic systems used to harness the energy must adhere to electrical and fire codes to ensure safety and efficiency. However, this current tax credit is set to expire at the end of 2016. For anyone looking to invest in a solar farm – now is the time.

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DISCLAIMER: Innovative Solar Systems, LLC is not a certified public account, licensed financial advisor or a licensed attorney. This information is intended to explain the availability of certain tax credits and other benefits arising out of the installation of a solar energy producing assets. Actual tax benefits will vary depending on specifics surrounding the end user or owner. This information is not intended as legal, financial or tax advice with respect to our available solar projects. Please consult your accountant, financial advisor or attorney for advice with respect to any tax matters or returns related to material contained herein.